Accruals And Expenses Flashcards
1
Q
What are accruals
A
Expenses due
2
Q
What is a prepayment
A
Expenses prepaid
3
Q
Expense pp and due t ACC
A
Expenses
1/1 pp. 1/1 due
31/12 Due. 31/12 pp
4
Q
Every person can add
A
Expenses prepaid current asset
5
Q
What side does the p+L go in expense ACC
A
Credit
6
Q
What is an expense due
A
Current liability
7
Q
Expense prepaid
A
Current aset
8
Q
Expense prepaid
A
Current asset
